FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2015

FAIR VALUE MEASUREMENTS

Schedule of assets and liabilities measured and recorded at fair value on a recurring basis

The following table provides the financial assets and liabilities carried at fair value, in thousands, measured on a recurring basis as of March 31, 2015 and December 31, 2014 using the fair value hierarchy prescribed by U.S. GAAP. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets.  Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs. An asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

			Fair Value Measurements
	Carrying		Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2015:
Liabilities:
Interest rate swap	$	3,586	$	—	$	3,586	$	—
Acquisition-related contingent consideration	1,165		—		—		1,165
Total Liabilities	$	4,751	$	—	$	3,586	$	1,165
December 31, 2014:
Assets:
Interest rate cap	$	1	$	—	$	1	$	—
Liabilities:
Interest rate swap	$	2,451	$	—	$	2,451	$	—
Acquisition-related contingent consideration	1,116		—		—		1,116
Total Liabilities	$	3,567	$	—	$	2,451	$	1,116

Schedule of changes in the fair value of contingent consideration related to acquisitions

The following table represents the change in the acquisition-related contingent consideration obligation during the three months ended March 31, 2015 (in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Total
Beginning balance December 31, 2014	$	1,116
Fair value related adjustments	—
Present value accretion	67
Payments	(18		)
Ending balance March 31, 2015	$	1,165